Columbia Sportswear announces first ever $500m quarter
25/10/2010
Tim Boyle, Columbia Sportswear’s president and chief executive officer, commented: “We achieved quarterly sales of over $500 million for the first time in the company’s 72 year history, highlighted by the global launch of our innovative Omni-Heat warmth technologies. During the quarter we also added another technology to our expanding platform of innovations with the acquisition of OutDry Technologies, which we plan to introduce across our brand portfolio in fall 2011.”
Mr Boyle continued: “The increase in 2010 net sales and much of the pressure on 2010 operating margins are the result of investments we have chosen to make to claim market share; to shift our business toward more innovative and premium products; to drive consumer demand for all of our major brands, particularly the Columbia brand; and to improve business systems and processes. We believe we are achieving many of our goals in the marketplace, and have therefore begun to invest more heavily in our infrastructure and systems. To successfully secure market share and retail floor space for our fall 2010 innovations, we chose to expedite manufacturing and shipping in a capacity constrained environment, which has had a particularly pronounced impact on our 2010 profitability.”
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